Drones and Part 107 – The New FAA Regulatory Landscape

Braden Perry, a regulatory and compliance attorney with Kennyhertz Perry, LLC, was asked by Business News Daily about the FAA Part 107, lessening the regulatory burden on the commercial use of drones. Part 107, which goes into affect on August 29, 2016, streamlines the process to legally operate a drone for commercial purposes. Perry appeared in the article entitled “7 Cool Commercial Drone Uses Coming to a Sky Near You” and discussed how Part 107 will likely increase drone usage: “Essentially, you can use a drone as long as it is less than 55 pounds, within eyesight by a certified ‘remote pilot in command’ operator at a maximum altitude of 400 feet,” Perry said. “Prior to the new rules, you had to have a pilot’s license to operate an unmanned aircraft. Most companies cannot afford to hire a pilot solely to pilot a drone. The certification for remote pilot in command is not strenuous, and generally any adult can get one at little cost, and very quickly. This opens the doors for almost any company to utilize unmanned aircraft technology in their business.

Posted July 30, 2016 | by Braden Perry |in Regulations

Braden Perry Discusses Rouge Insiders and Cybersecurity with Digital Guardian

Kennyhertz Perry partner Braden Perry was one of several data security and cybersecurity attorneys asked to compare the risks of insider threats vs. outsider threats with Digital Guardian, a leading platform for digital protection. Perry, a member of the firm’s Regulatory & Compliance Practice Group, discussed how insiders have are more dangerous to an entity due to their access to data. “There’s not much, besides compartmentalization and monitoring, that you can do if an insider wants to reach data,” Perry said.

Preparation and prospective mitigation are keys to limiting opportunities: ” While no single strategy fits all, practicing basic cyber hygiene would address or mitigate a vast majority of security breaches. Being prepared if an intrusion occurs is also critical and having a communications method for response, actively monitoring centralized host and networks, and including enhanced monitoring to detect known security events is a must. With a well-oiled cyber policy, you can mitigate outsiders significantly,” he said.

Posted July 30, 2016 | by Braden Perry |in Cybersecurity

Does My Startup Need a Lawyer? 

We have all heard stories about a startup that received millions of dollars from an angel investor or a VC firm and then sold their company for even more millions and lived happily ever after, right?

As business lawyers who have decades of experience counseling entrepreneurs, we are here to help you. We are here to make sure you are prepared and protected – to help you deal with the real day-to-day challenges startups face.  We are also here to help you reach your goals of making millions of dollars doing what you love.

Unfortunately, so many of our startup clients come to us too late. Some of the smartest people we represent have been proactive by taking the first steps towards starting a business, but they have not been proactive in finding a lawyer to help them do it the right way. Below are three areas we focus on during an initial consultation with a startup.

Posted July 28, 2016 | by John Kennyhertz |in Business Law, FEIN, Start Up Business

Entrepreneurs: Please Hire an Attorney…Even If It’s Not Us

Entrepreneurs: Please Hire an Attorney…Even If It’s Not Us.

When Entrepreneurs set out to build their business they frequently do so in a vacuum and with the excitement of starting something new.  More often than not, they fail to consider potential legal issues they are facing now and down the road, most of which they cannot anticipate during the early stages of forming an entity.

Posted July 14, 2016 | by John Kennyhertz |in Business Law, Start Up Business

Non-Registrant Sanctions: CFTC Taking Actions for Failure to File Required Reports

Non-Registrants face many CFTC rules and regulations, and increasingly the obligation to file certain reporting forms, including Forms 204 and 304. Violations of these obligations have been highlighted recently in several CFTC enforcement actions, including CHS Inc., Marubeni America Corporation, and most recently Agrocorp International Pte Ltd. and Golden Agri International Pte Ltd.

Non-Registrant knowledge and understanding of the very technical and sometimes contradictory reporting minutia. If you have questions regarding CFTC Forms 204 and 304, Regulation 19.01, or any other CFTC rule or regulation, please contact Braden Perry with Kennyhertz Perry, LLC’s Commodities, Futures, and Derivatives, and Government Enforcement practice groups, where roots of the practice are in the commodities markets, where Mr. Perry spent time as a CFTC Senior Trial Attorney.  Kennyhertz Perry lawyers regularly advise our clients on compliance with the complex laws and regulations governing the securities and derivatives industries, including the Commodity Futures Modernization Act of 2000, the Commodity Exchange Act, and CFTC regulations, and the rules of the derivatives exchanges and clearinghouses and other industry self-regulatory organizations. Kennyhertz Perry lawyers guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on modifications of transaction structure and documentation. Mr. Perry also brings his enforcement experience and his substantial prior experience in white collar criminal defense practice, and represents corporate clients and individual officers and directors at every stage of government investigations and enforcement actions – including white collar criminal matters – initiated by state and federal agencies, including the CFTC and NFA.

Posted July 13, 2016 | by admin |in CFTC, Due Diligence, White Collar Crime

CFTC Enforcement Action Targets Company for Failure to File CFTC Form 204

In another enforcement action involving failure to file CFTC from 2014 as required by CFTC Regulation 19.01, the Commodity Futures Trading Commission ordered Golden Agri International Pte Ltd. to pay $150,000. This follows similar actions against farm co-op CHS Inc. and Marubeni America Corporation and is a reminder to reportable market participants of their ongoing legal obligation to comply in a timely manner with Regulation 19.01, which prescribes the form and manner for submitting Form 204 reports to the Commission for wheat, corn, oats, soybeans, soybean oil, and soybean meal. Regulation 19.01(b) requires that the Form 204 report be made monthly by the close of business on the last Friday of the month, and filed with the Commission’s Office in Chicago, IL by the third business day following the date of the report or via facsimile, telephone, or mail. 

Failure to file Form 204 reports in a timely manner and follow instructions constitutes a violation of Regulation 19.01, which is actionable under the Commodity Exchange Act (“CEA”) and Commission regulations and these actions show that enforcement proceedings will brought against nonconforming companies. 

If you have questions regarding CFTC Form 204, Regulation 19.01(b), or any other CFTC rule or regulation, please contact Braden Perry with Kennyhertz Perry, LLC’s Commodities, Futures, and Derivatives, and Government Enforcement practice groups, where roots of the practice are in the commodities markets, where Mr. Perry spent time as a CFTC Senior Trial Attorney.  Kennyhertz Perry lawyers regularly advise our clients on compliance with the complex laws and regulations governing the securities and derivatives industries, including the Commodity Futures Modernization Act of 2000, the Commodity Exchange Act, and CFTC regulations, and the rules of the derivatives exchanges and clearinghouses and other industry self-regulatory organizations. Kennyhertz Perry lawyers guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on modifications of transaction structure and documentation. Mr. Perry also brings his enforcement experience and his substantial prior experience in white collar criminal defense practice, and represents corporate clients and individual officers and directors at every stage of government investigations and enforcement actions – including white collar criminal matters – initiated by state and federal agencies, including the CFTC and NFA.

Posted July 11, 2016 | by admin |in CFTC, Due Diligence, White Collar Crime